Which legal form of agricultural firm based on return on equity should be preferred? A panel data analysis of Slovak agricultural firms

This paper examines the impact of the legal form of agricultural firms on the benefit to their owners for a panel of Slovak agricultural firms. We use return on equity (ROE) as a measure of the benefit to owners. Using the repeated measures ANOV A technique, we find that the legal form of a firm is a relevant determinant of the benefit to owners. We conclude that from the point of view of ROE the legal form ‘company’ is preferable over ‘cooperative’

Strategic human resources management and its impact on performance in Slovak banks

Text number of project This work was supported by the Scientific Grant Agency of the Ministry of Education of the Slovak Republic (ME SR) and the Slovak Academy of Sciences (SAS) under the contract No. VEGA- 1/0525/21The aim of this study is to explore the adoption of Strategic Human Resources Management (SHRM) approach in banking organizations that operates in Slovakia. It aims also to examine the relationships between two main parts such as Human Resource Management (HRM) and organizational performance, in addition, it aims to explore the main problems and challenges that may face (HRM) in the targeted banks. A survey methodology was adopted in this study using the self-administrated standardized questionnaire as the data collection method and that was distributed to (50) managers and collected from (31) managers. The results of the study were as follows: the targeted banks adopt (SHRM) approach when managing their (HR) as they also have long-term (HR) plans and written (HR) plans and policies; (HRM) managers participate in top management meetings. The most prominent challenges that hinder the effective implementation of (SHRM) were: limited budget dedicated to (HR) activities; lack of cooperation and coordination between executive managers and (HR) managers. Training, initial test, compensation and rewards are the main (HRM) practices and activities in the targeted banks. Importantly, (SHRM) positively affect the organizational performance which can be represented by increasing profits, increasing the sales ratios, increasing job satisfaction and increasing the loyalty of employees. The current study has made significant contributions to the body of knowledge at academic and practical levels and has come up with good recommendations to improve management of (HRM) and (SHRM) which will affect the effectiveness of whole organization

Factors influencing the implementation of diversity management in business organisations in a transition economy. The case of Slovakia

With increasing internationalisation of business, diversity management has emerged as an important issue, even in traditionally non- diversified companies. This research seeks to examine the effect of size, legal form and share of the foreign capital in the ownership structure of the organisation on the implementation of diversity management. An empirical survey was carried out that examined the state of the implementation of diversity management in the Slovak Republic. Using non-parametric statistical methods and post-hoc testing by data analysis, the research survey revealed that the evaluated factors significantly influenced the attitudes of respondents towards the diversity management implementation. The respondents working in large business organisations generally perceive the diversity management concept more positively when compared with respondents working in smaller organisations. The respondents working in business organisations where the share of foreign capital in the ownership structure exceeds 80% are more positively inclined towards the implementation of diversity management. The legal form of the business organisation does not influence the attitudes of the respondents in any significant way. We recommend domestic business organisations and SMEs focus on the diversity issues, especially on supporting the diversified work teams. This can preferably be done by diversity training, using formalised HRM procedures and mentoring initiatives. Diversity management is not solely a domain of subsidiaries and large business organisations. The organisations are able to benefit from diversity management regardless of their size and country of origin

Craft beer revolution: formation of a new segment in Slovakia

Research background: Globalization has significantly affected the brewing sector worldwide during the last three decades. The industry consolidation and many acquisitions led to a reduced number of breweries and consequently to the homogenization of beer. It was an important factor affecting the significant decline in beer consumption in the world. However, over the years, this negative phenomenon also brought a new wave ? the development of craft breweries, and resulted in the formation of a new segment with specific preferences in the market. Purpose of the article: As a result of the craft beer revolution in the world and the wider offer on the beer market, customer preferences changed, and a new segment was subsequently formatted. In the past, lagers were the preferred choice, but due to the new wider range of beers offered in the market, they are about to lean towards other types of beer. Therefore, the purpose of this paper is to identify a new segment of craft beer consumers based on characteristics such as age, gender, education, income, residence, marital status, work, and leisure activities. Methods: For data collection, a questionnaire was used as a tool and, therefore, we analyzed the answers of 685 respondents from Slovakia. The questionnaire is evaluated through dependency analysis using nonparametric methods (Kruskal-Wallis Test, Mann-Whitney Test) to identify the differences between groups of customers and to describe the characteristics of a typical consumer of craft beer. Findings & value added: The craft beer revolution in the world brought a formation of a new segment, which considers the taste and quality more compared to price. Our research has confirmed that this segment consists of highly educated men (26?40 years old), with above average income. However, it is important for beer producers to know this segment more to meet its requirements. Nevertheless, deeper studies of this segment were missing. Therefore, our research was focused on other parameters of the segment and according to our findings, these consumers are from bigger cities, working more mentally, and doing sports in leisure time

Correlation between beer consumption per capita and number of active breweries in the selected European countries

Research background: Craft beer is becoming one of the most popular alcoholic beverages globally, during the last decade. Additionally, industrial beer producers started to offer some special craft beer types that prove the rising demand for differentiated beer products. Purpose of the article: Since one of our common fields of interest is the development of the brewing industry, we intended to provide an overview of a recent trend in this sector, which is the expansion of craft breweries. As the data reveals, this trend has been present in various European countries, as well. Therefore, the purpose of this paper is to show that the trend of craft brewing is present in countries with strong brewing history such as Belgium, the Czech Republic, or Germany, and in those countries which are not considered as typical beer producers because of their location and culture. Methods: The information provided in this paper was retrieved mainly from scientific papers that focus on the brewing industry and the craft beer revolution. To be able to offer transparent and understandable results, we retrieved data from the reports of Brewers of Europe, which is a European non-profit association. Therefore, the research methods used are the comparison of quantitative data and correlation. Findings & Value added: The paper provides an overview of the expanding craft beer industry in the selected European countries and how strong the relation between beer consumption per capita (l) and number of active breweries is

Factors Influencing the Extent of the Ethical Codes: Evidence from Slovakia

Even though formalization of ethical principles is a must in today’s business, research and evidence in the Slovak conditions remain scarce. Yet, creating an ethical business climate and especially the formalization of ethics through codes of ethics incorporated in corporate standards is a particularly interesting phenomenon in the conditions of transit economies due to the significant role of multinationals in this process. Therefore, the purpose of this study was to examine main factors influencing the extent of ethical codes in 225 subsidiaries of multinational companies operating in Slovakia. The conducted questionnaire study containing items focused on area and extent of ethical code, number of employees, economic performance, regional and industrial scope, ownership structure, and nationality of executive director was used as a tool for data collection. Factor analysis was processed to identify the interdependencies between observed variables and to find the latent variables. Further, the Kruskal–Wallis test was applied to identify the differences among the variables along with the Bonferroni correction test, which specified the items between which the significant difference occurred. The following findings emerged. First, companies with lower extent of ethical code use general phrases. When they want to specialize on any ethics problems, extent must be wider. Second, companies with a lower number of employees do not need extensive ethical code due to clear rules with which they are familiar in a direct way by owners. In multinational companies, the communication of ethical rules is realized via ethical codes with specific purposes because the direct way is impossible. Third, companies with foreign ownership used different managerial approaches, and therefore ethical codes differ in extent and content

Quality Control in Production Processes

The tools for quality management are used for quality improvement throughout the whole Europe and developed countries. Simple statistics are considered one of the most basic methods. The goal was to apply the simple statistical methods to practice and to solve problems by using them. Selected methods are used for processing the list of internal discrepancies within the organization, and for identification of the root cause of the problem and its appropriate solution. Seven basic quality tools are simple graphical tools, but very effective in solving problems related to quality. They are called essential because they are suitable for people with at least basic knowledge in statistics; therefore, they can be used to solve the vast majority of problems

Impact of education on the financial literacy: a case of Slovakia

The Financial crisis in 2008 increased the focus of financial intermediaries and also national authorities for financial education and financial literacy of households. Bank association in Slovakia started to measure and increase the financial literacy of population and government implemented the National standard of financial literacy into the curriculum of grammar schools and high schools. This paper examines the level of financial literacy of students in Slovakia and the influence of determinants education level and education focus. We performed a questionnaire with 10 questions on a sample of 608 students from two Faculties of Slovak University of Agriculture. The questions were linked to 4 areas: interest, risk management, financial market and personal finance. To measure the level of financial literacy we use Index of financial literacy IFIG). Using Index of financial literacy and Mann-Whitney U test techniques we find that education level and education focus are relevant determinants of financial literacy level. Students with bachelor degree have better results when compared to high school students. The success rate measured by the IFIG of bachelor students was 0,658 and the success rate of high school students was 0,577. We also found differences based on the education focus. We compared two groups: students with economic focus of education with students with non-economic focus of education. Based on our results we can conclude that economic focus of education increases the level of financial literacy. The success rate of students with economic focus of education was significantly higher (0,674) compared to the students with non-economic focus of education (0,553)

Is successful retaining of talented individuals determined by firm´s economical situation? A case of slovak firms from Nitra region

Retaining of talented employees is a crucial part of talent management process. We confirm that the change of economic situation of firm is an important determinant of successful retaining of talented employees. We confirm this assumption on a sample of firms from Nitra Region of Slovak Republic. We analyze the data with Kruskal-Wallis Analysis of Variance. Where statistically significant difference in attitudes of respondents confirmed we use Tukey` s HSD test for further analysis